Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | August 5th, 2013


The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.

The bracketed numbers represent previous weeks' stats from this same report.

Below is this week's chart of the largest price declines (those over 5%) for Vancouver homes for sale from July 28-August 5 (Morning). In the last business week ending Sunday morning, there were 135 (135) price changes of which 131(124) (129) were price declines.  The average price decline from among the 131 declines was $34,729($41,918) ($37.380) or 3%. 

75 (68) (73)  of the 131 properties or 55% (60.8%) were apartments the average price decline for which was $13,780 ($17,053) ($23,535) or 3%(3%). 

There were 8 duplex price declines this week averaging $19,763 or 2%. 

40 (43) (31)(30) or 30.5% (35%) (24%)  of the declines were attributable to houses averaging a price decline of $80,020 ($85,958) ($78,773)  or 4% (4%). 

8 (12) (18)  or 6% (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $19,638 ($25,008) ($24,533) or (3%) (3%).  

Well this last week saw 298 (280) (312) (384) new listings and 207 (201) (215) (201) sales for a total absorption rate of 69.4% (72%) (68.9%) (52%) (42.2%), maintaining market strength.

Apartments registered  115 (118) (114) (114) sales against new listings of 148 (152)(154) (191) for an Absorption ratio of: 77.7% (78%) (75%) (59%) (47.5%)
Townhouses registered 24 (14) (22) (18) sales against new listings of 21 (34) (20) (35) for an Absorption ratio of: 114%(41%) (110%) (51%)(37.1%)
Houses registered 48 (63)(75) (63) sales against new listings of 116 (83) (122) (142) for an Absorption ratio of: 41.3%(76%) (61.4%) (44%)(36%).
Duplexes registered 8 (10) (4)(5) sales out of 9 (11) (13) (16) new listings for an absorption ratio of 112.5% (91%) (30.7%) (31%)

Great week for duplexes and townhouses and a solid week for apartments!

A word of caution is necessary.  I don't always publish these numbers at the same time such that a tally 7 days back taken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day.  In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers.  It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.

Happy Hunting!
 
Address LP Prev LP Change % Change Tot BR Dwell Age
# 501 535 SMITHE ST 299,000 335,000 36,000 11 0 APTU 3
10 W 12TH AV 1,499,000 1,658,000 159,000 10 7 OTHER 101
4525 W 2ND AV 4,888,000 5,300,000 412,000 8 3 HOUSE 60
1026 W 48TH AV 2,380,000 2,580,000 200,000 8 4 HOUSE 53
4688 W 14TH AV 2,398,000 2,599,000 201,000 8 4 HOUSE 14
2630 W 41ST AV 1,938,000 2,098,000 160,000 8 6 HOUSE 1
1365 PARK DR 1,098,000 1,188,000 90,000 8 4 HOUSE 71
# 215 4113 FRASER ST 325,000 350,000 25,000 7 2 APTU 19
262 E 2ND AV 395,000 425,000 30,000 7 0 APTU 4
# 610 610 GRANVILLE ST 548,000 589,000 41,000 7 1 APTU 7
# 2905 977 MAINLAND ST 750,000 799,000 49,000 6 2 APTU 6
# 112 5958 IONA DR 1,035,000 1,098,000 63,000 6 4 TWNHS 7
# 1205 3489 ASCOT PL 189,000 199,800 10,800 5 1 APTU 19
# 304 908 W 7TH AV 359,900 379,900 20,000 5 1 APTU 17
# 113 8988 HUDSON ST 299,000 315,000 16,000 5 1 APTU 9
# 217 36 E 14TH AV 189,000 199,000 10,000 5 1 APTU 42
# 2306 689 ABBOTT ST 499,000 525,000 26,000 5 2 APTU 4
976 E 54TH AV 759,000 798,000 39,000 5 5 HOUSE 63
# 38 2723 E KENT AV 455,000 478,000 23,000 5 2 TWNHS 17
2088 QUILCHENA CR 1,790,000 1,880,000 90,000 5 5 HOUSE 87
# 604 2370 W 2ND AV 415,000 435,000 20,000 5 1 APTU 45
6996 LABURNUM ST 3,998,000 4,188,000 190,000 5 7 HOUSE 15

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